Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 99.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,191 shares of the technology company's stock after selling 68,113,273 shares during the period. Millennium Management LLC owned 0.44% of Guidewire Software worth $61,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GWRE. Ossiam purchased a new position in Guidewire Software during the 4th quarter worth $29,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Guidewire Software during the fourth quarter worth about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Guidewire Software by 101.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock worth $34,000 after buying an additional 99 shares during the last quarter. R Squared Ltd purchased a new position in shares of Guidewire Software during the fourth quarter worth about $47,000. Finally, Colonial Trust Co SC increased its position in Guidewire Software by 176.0% in the 4th quarter. Colonial Trust Co SC now owns 287 shares of the technology company's stock valued at $48,000 after acquiring an additional 183 shares during the period.

Guidewire Software Price Performance

Shares of NYSE:GWRE traded down $1.65 during trading on Wednesday, hitting $213.65. 71,151 shares of the stock were exchanged, compared to its average volume of 921,417. The company has a fifty day moving average price of $196.79 and a two-hundred day moving average price of $193.00. The company has a market cap of $17.92 billion, a PE ratio of 591.80, a P/E/G ratio of 37.21 and a beta of 1.18. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 12-month low of $107.65 and a 12-month high of $219.59.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.44). The firm had revenue of $289.48 million for the quarter, compared to analyst estimates of $285.74 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. On average, analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

GWRE has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Guidewire Software from $228.00 to $231.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. The Goldman Sachs Group increased their price target on Guidewire Software from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a research note on Friday, March 7th. Finally, Robert W. Baird upped their price objective on shares of Guidewire Software from $230.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Guidewire Software presently has an average rating of "Moderate Buy" and an average price target of $206.08.

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $215.25, for a total value of $301,350.00. Following the completion of the transaction, the chief executive officer now directly owns 250,193 shares of the company's stock, valued at $53,854,043.25. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,956 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $370,485.96. Following the sale, the chief financial officer now directly owns 71,538 shares in the company, valued at approximately $13,550,012.58. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,371 shares of company stock worth $6,210,967. 0.48% of the stock is owned by corporate insiders.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.